Ethereum (ETH) seems to have extended its period of price stagnation, trading at $1,770 at the time of writing. The asset has dropped by 3% over the past week and 1.6% in the past 24 hours, continuing its broader corrective trend after reaching a cycle high of $4,107 in December 2024.
Although price movement has been limited, on-chain data suggests that certain underlying shifts could influence market behavior in the near term.
Ethereum Sees Plunge In Spot Volume
CryptoQuant analyst Darkfost has reported that Ethereum’s spot volume is experiencing a consistent decline. His analysis focuses on a bubble chart that visualizes two dimensions: the size of each bubble represents spot volume, and its color indicates the volume change rate.
According to the data, the bubbles have become progressively smaller and lighter in color, indicating that fewer trades are being conducted and that the pace of decline in volume is slowing.
While declining spot volume may traditionally be v
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